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BURGER KING (AUSTIN MSA) 15705 Interstate Highway 35 | Buda, TX TABLE of CONTENTS

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BURGER KING (AUSTIN MSA) 15705 Interstate Highway 35 | Buda, TX TABLE of CONTENTS BURGER KING (AUSTIN MSA) 15705 Interstate Highway 35 | Buda, TX TABLE OF CONTENTS TABLE OF CONTENTS I. Executive Summary II. Location Overview III. Tenant & Location Overview Executive Summary Location Aerial Tenant Profile Property Overview Demographics Location Overview Property Highlights Site Plan NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended STATEMENT: to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NET LEASE INVESTMENT OFFERING EXECUTIVE SUMMARY The 3,027 square foot Burger King building is strategically located along Interstate 35 in a dominant retail corridor in the Austin MSA. Interstate 35 is the only interstate in the Austin MSA and connects Austin to Dallas to the north and San Antonio to the south. Interstate 35 is a significant thoroughfare in the state of Texas. The Burger King has excellent visibility to the approximately 130,000 vehicles per day that travel along Interstate 35. The Burger King is well located in a major retail destination that is anchored by Cabela’s, Walmart Supercenter, and HEB. The surrounding area is experiencing tremendous expansion with annual population growth projected to be over 5% within three miles. There are over 48,000 people living within a five mile radius earning average annual household incomes in excess of $94,000. The lease has 17 years remaining and features 5% rental escalations in year 5, 10, and each renewal option period. The lease is triple net and features zero landlord responsibilities. The lease is guaranteed by Magic Fries, LLC, the entity operating all of the Sun Holdings, Inc.’s Texas Burger King restaurants. Sun Holdings, Inc. is the 9th largest total Franchise owner in the United States. Property Overview: Price: $1,953,309 Cap Rate: 5.50% Net Operating Income: $107,432 Rent Schedule: 5% in Year 5, 10 & Each Renewal Option Renewal Options: Three 5-Year Rent Commencement: October 1, 2015 Lease Expiration: September 30, 2032 35 Tenant: Fritz Management, LLC Guarantor: Magic Fries, LLC Year Built: 2010 Building Size: 3,027 SF Land Size: 0.80 Acres Lease Type: NNN (130,000 VPD) Property Highlights: • Located within the Austin MSA • Long term lease with 17 years remaining • 5% rental escalations in year 5, 10 and each renewal option period INTERSTATE - 35 FRONRAGE ROAD • Absolute triple net lease with no landlord responsibilities • 5.95% annual projected population growth within three miles of the property • Located along Interstate 35 with excellent visibility to approximately 130,000 VPD • Dominant retail destination that features Cabela’s, Walmart Supercenter, and HEB • Recently constructed building • Average household incomes in excess of $94,000 annually within five miles • The lease is guaranteed by Magic Fries, LLC, the entity operating all of the Sun Holdings, Inc.’s Texas Burger King restaurants. Sun Holdings, Inc. is the 9th largest Franchise owner in the United States NET LEASE INVESTMENT OFFERING LOCATION OVERVIEW Demographic Report: Population 3-Mile 5-Mile 7-Mile Total Population 22,694 48,434 130,449 Total Households 7,514 16,520 45,717 Annual Population Growth 5.95% 4.83% 3.69% Income 3-Mile 5-Mile 7-Mile Median Household Income $82,631 $82,732 $76,258 Average Household Income $91,298 $94,481 $88,158 (130,000 VPD) INTERSTATE 35 NET LEASE INVESTMENT OFFERING TENANT PROFILE TENANT Magic-Fries Holdings is the guarantor of the Buda, Texas property. Magic-Fries Holdings is owned by Guillermo PROFILE: Perales who is the CEO of Sun Holdings, Inc. Magic-Fries Holdings is the entity operating all of the Sun Holdings, Inc’s Texas Burger King restaurants. Sun Holdings, Inc. is the 9th largest Franchise owner in the United States. In total, Sun Holdings owns and operates 280 Burger Kings, 100 Popeye’s, 68 Arby’s, 24 Golden Corrals, 36 Cici’s Pizza, 15 Krispy Kreme locations, 89 T-Mobile stores and 10 restaurants in different airports. Their operations have created 14,000 local jobs, and they plan to continue to grow. Sun Holdings, Inc. was founded in 1997 by now President and CEO Guillermo Perales. In 2014 alone, he was awarded the Empire Builder Award from the Greater Dallas Hispanic Chamber of Commerce, Multi Unit Franchisee Magazine ranked him seventh Multi Unit Brand, and the Dallas Business Journal ranked him first Largest North Texas Hispanic Owned Business and Largest North Texas Minority Owned Business. Since 1997, he has produced an annual growth rate of 50 percent for his company and quickly turned himself into the largest Latino franchise owner in the United States. Burger King (often abbreviated as BK, is an American global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. After Insta-Burger King ran into financial difficulties in 1954, its two Miami-based franchisees, David Edgerton and James McLamore, purchased the company and renamed it Burger King. Over the next half century, the company would change hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking it public in 2002. In late 2010, 3G Capital of Brazil acquired a majority stake in BK in a deal valued at US$3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes. 3G, along with partner Berkshire Hathaway, eventually merged the company with Canadian-based doughnut chain Tim Hortons under the auspices of a new Canadian-based parent company, Restaurant Brands International. Restaurant Brands International Inc. is a publicly traded company (NYSE: QSR) with a market capitalization in excess of $7 billion. As of October 8, 2015, it franchised or owned approximately 19,000 restaurants in approximately 100 countries and U.S. territories worldwide. Today there are approximately 14,000 Burger King locations worldwide. Website: www.bk.com Number of Burger King Locations: 14,000 Parent Company Stock Symbol: NYSE: QSR Parent Company Market Capitalization: $7 billlion NET LEASE INVESTMENT OFFERING LOCATION OVERVIEW LOCATION Austin is the capital of Texas and the seat of Travis County. Located in Central Texas, Austin is the 11th most OVERVIEW: populous city in the United States and the fourth-most populous city in Texas. The Austin-Round Rock MSA had a 2013 estimated population of 1,883,051. Forbes ranked Austin the fastest growing metropolitan area in the country. Austin is home to the University of Texas at Austin, the flagship institution of the University of Texas System with over 50,000 students and is also home to Austin Community College, the 15th largest college in the United States with enrollment in excess of 70,000 students. Government and education play a vital role in the Austin economy. Additionally, Austin is a hub for the technology industry with a strong presence of semiconductor manufacturing and software. Austin’s largest employers include the Austin Independent School District, the City of Austin, Dell, the U.S. Federal Government, Freescale Semiconductor, IBM, St. David’s Healthcare Partnership, Seton Family of Hospitals, the State of Texas, the Texas State University, and the University of Texas at Austin. Forbes listed Austin as the city with the most economic momentum moving forward. “Keep Austin Weird” has been a local motto for years, featured on bumper stickers and T-shirts. This motto has not only been used in promoting Austin’s eccentricity and diversity, but is also meant to bolster support of local independent businesses. Austin is home to a plethora of notable events including Austin City Limits, South by Southwest, the Formula One United States Grand Prix, and the X-Games. Austin lies between two major north-south freeways: Interstate 35 to the east and the Mopac Expressway (Loop 1) to the west. U.S. Highway 183 runs from northwest to southeast, and State Highway 71 crosses the southern part of the city from east to west, completing a rough “box” around central and north-central Austin. Austin is the largest city in the United States to be served by only one Interstate Highway. Austin is served by the Austin-Bergstrom International Airport, which is located approximately five miles southeast of the city. www.austintexas.gov NET LEASE INVESTMENT OFFERING Randy Blankstein President 847.562.0003 [email protected] John Feeney Vice President 847.562.9280 [email protected] 666 Dundee Road, Suite 1801 Northbrook, IL 60062 www.bouldergroup.com.
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